Sales of Million-Dollar Homes Double in a Year

12900 Beck Rd Dallas, OR 97338
Presented by Julie Halter, Joe and Stephanie Reitzug | Offered at $3,900,000 | MLS# 20659293

From Realtor Magazine

Home sales are skyrocketing during the pandemic, but the most dramatic increase is happening at the top of the market. Sales of homes costing $1 million or higher have doubled since last year.

Based on NAR reports, home sales in luxury vacation destinations have increased since July by 34% year over year in September.

With the pandemic causing work and school to be done at home, people who are financially secured are more compelled to look for a bigger or spacious home. This is cost-effective as mortgage rates are still at record lows.

Home prices are still rising as buyer demand remains high and inventories low. Based on NAR reports, sales for homes with prices ranging from $250,000 to $500,000 increased in September by 36%. The median home price last month reached a record high of $312,000, which is an increase of 14.8% from a year ago.

Full article on Realtor Magazine

WalletHub names Bend 2nd fastest growing city in the US

61794 Tam McArthur Loop Bend, OR 97702
Presented by Tebbs & Little Group | Offered at $3,899,000 | MLS# 220102501

From Central Oregon Daily

According to WalletHub’s recent report on 2020’s Fastest Growing Cities in America, Bend ranked second next to Fort Myers, FL.

WalletHub is a personal finance website that compares 515 US cities across 17 key metrics to determine where the most rapid local economic growth occurred over a period of seven years.

The factors considered in the release of this report ranges from population growth to college-educated population growth to the unemployment rate decrease.

Furthermore, WalletHub produced a separate ranking by city size.

Bend topped the report’s rankings for “mid-sized” cities, ahead of Meridian, Idaho, Enterprise, Nev. and Frisco, Texas.

Economic Growth in Bend (1=Fastest-Growing; 258=Avg.):

  • 11th – Population Growth
  • 43rd – Median Household Income Growth
  • 1st – Job Growth
  • 263rd – Poverty Rate Decrease         
  • 10th – Regional GDP Growth
  • 163rd – Unemployment Rate Decrease
  • 1st – Growth in Number of Businesses
  • 11th – Working-Age Population Growth
  • 87th – Median House Price Growth

Full article on Central Oregon Daily